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North America Toxicology Laboratories Market is predicted to surge at a CAGR of 11% over the forecast period (2021-2031): Persistence Market Research

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Persistence Market Research Pvt. Ltd.

21 Jul, 2021, 11:00 GMT

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NEW YORK, July 21, 2021 /PRNewswire/ -- According to a revised report published by Persistence Market Research, the North America toxicology laboratories market size is valued at US$ 180 Mn, and is predicted to surge at a CAGR of 11% over the forecast period (2021–2031).

Toxicology testing is a science that deals with the identification of poisons and controlled substances, and their effect on the legal, clinical, and industrial environment. Toxicology testing laboratories perform the diagnosis of numerous controlled substances for excessive consumption with the help of suspect samples such as urine, hair, blood, and oral fluids.

This research examines the numerous devices, reagents, and kits used in forensic laboratories (public and commercial), clinics, rehabilitation centers, hospitals, and diagnostics laboratories to diagnose the amount of substance.

Companies involved in the production of drug testing kits and instruments in the U.S. are now focusing on the commercialization of novel reagents that ensure rapid test results. Such initiatives are taken up by companies in view of the large demand-supply gap in toxicology services in the U.S, which is expected to boost the demand for toxicology laboratories in North America.

Request for sample PDF of report: https://www.persistencemarketresearch.com/samples/9707

Key Takeaways from Market Study

  • Amphetamines are expected to contribute more than 26% revenue share in the market by 2031.
  • ELISA and RIA kits are the leading the demand charts by product, due to advanced application of these kits for primary analysis of samples.
  • Urine samples are expected to account for 60% market share, due their prominent use in the detection of opioids, alcohols, and amphetamines.
  • Among all the end users, forensic laboratories account for over 5% market share, attributed to substantial need of these laboratories by federal agencies and other private companies.
  • The U.S. holds the highest share in the North America toxicology laboratories market.
  • Leading manufacturers of instruments and reagents are attaining core competencies through novel product launches, and are focusing on bringing improvements in terms of achieving outcomes in minimum time.
  • The market in the U.S. is projected to be the fastest-growing at a CAGR close to 12%.

Ask an expert for any other query: https://www.persistencemarketresearch.com/ask-an-expert/9707

"The market is expected to witness significant growth in the near future owing to growing awareness regarding drug product safety along with advancements in technology," says an analyst of Persistence Market Research.

Government Initiatives towards Toxicology Laboratories

Government officials are enforcing strict regulatory norms to prevent the misuse of regulated substances, which, in turn, is leading to a rise in the use of toxicology testing across the North American market.

The U.S. Controlled Substances Act controls the manufacturing, distribution, and dispensing of controlled substances across the U. S. The Controlled Substances Act (CSA) establishes a unified legal framework to regulate certain drugs that are deemed to pose a risk of abuse and dependence. The CSA may apply to drugs that are medical or recreational, and legally or illicitly distributed.

Such stringent government regulations have also mandated the drug monitoring of employees at their workplace. Before granting any reimbursement to claimants, insurance service providers conduct toxicological tests.

Get full access of report: https://www.persistencemarketresearch.com/checkout/9707

What Does the Report Cover?

Persistence Market Research offers a unique perspective and actionable insights on the North America toxicology laboratories market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2021 – 2031.

The research study is based on drug class (alcohol, amphetamines, barbiturates, benzodiazepines, illicit drugs, opiates/opioids, tricyclic antidepressants, and Z drugs), product (reagents & kits and instruments), sample (urine, blood, hair, and oral fluids), and end user (hospitals, clinics, diagnostic laboratories, forensic laboratories, and rehabilitation centers), across seven key regions of the world.

Related Reports:

  • In Vitro Toxicology Testing Market
  • Catheterization Laboratories Monitoring Systems Market
  • Laboratory Electronic Balance Market
  • Laboratory Developed Testing Market
  • Laboratory Casework Market
  • Laboratory Automation Systems Market

About Persistence Market Research:

Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.

Overview:

Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies'/clients' shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.

Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com  
Visit Our Website: https://www.persistencemarketresearch.com

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